Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
I tried a new scalping method early this morning and got killed. I won't bother showing you those trades because they were useless (at least I was). It has taken me awhile but I have managed to dig myself out of a deep hole. I am now about $20 to the positive after commissions. We will see what the market does from here.
I should have stopped after digging myself out of that big hole but pride can lead to destruction. Here are my final results for today:
Crude (CL)
S&P500 (ES)
Here is a snapshot of my last trade for the day. It was a picture perfect setup and I blew it. I didn't expect the last move up before the fall to be as strong as it was and I got stopped out to the tick. This happened to me twice today (where I got stopped out to the tick). However, had I not been trying to squeeze in a few extra dollars after a super difficult day and waited for my setup entry it never would have been a problem.
Not a great way to start after the holiday. I definitely wasn't thinking. I missed 2 perfect setups that would have yielded me over $1500 with 4 contracts. Tried taking a 2nd test of my area instead of waiting for a HH above 47.76 and got stopped out now I am down over $500. In addition, I missed my SHORT entry at 47.43 It is going to be a fight today!
Expecting price to go to 47.17. Entered at 46.81 with 2 contracts. Initial stop: -17 ticks. T1: +16 / T2: +26. We will see what happens. Not looking good at the moment but I will let it play out as this is one of my favorite setups.
Entered on pullback @ 46.92 with 2 contracts. At this point I am just wanting to get a little cushion so I have both contracts set @ T1 for +16 ticks. Just filled.